IFC, YCDC to improve construction permit system

The International Financial Corporation (IFC) the sister organisation of the World Bank, is partnering with the Yangon City Development Committee(YCDC) to reform the city’s construction permit system and optimise the role of the private firms. “The goal of this partnership with IFC is to streamline and automate Yangon’s construction permit process by June 2019. This […]

JICA to fund new projects to replace old suspension bridges

The Japan International Cooperation Agency (JICA) will fund the construction of new bridges to replace ageing suspension bridges in some areas of the country, an official of the Japanese aid agency said. Among the new bridges that JICA will fund include the one that will replace the Gyaing suspension bridge in Kawkareik township of Kayin […]

Myanmar businesses join hands for FDI

THE MYANMAR Investors Development Association (MIDA), an alliance of large-scale local enterprises, will help the government achieve its economic goals by actively engaging with local and foreign investors, according to its chairman Khin Maung Aye. ”For our country to grow further, we need to create thousands of jobs for our citizens. Job creation entirely depends […]

Japan mulls resuscitating failed Hanthawaddy airport proposal

Japan and Myanmar are in discussions about resuscitating the failed Hanthawaddy International Airport project, according to the transport minister. U Thant Sin Maung, Minister for the Ministry of Transport and Communication, held a meeting with Tsukasa Akimoto, Japan’s State Minister of Land, Infrastructure, Transport and Tourism in Park Royal Hotel, Yangon, on April 30. The […]

Myanmar region woos French FDI

Myanmar’s underdeveloped Tanintharyi region bordering Kanchanaburi province plans to attract European investment mainly from French companies in the months to come, according to Phyo Win Tun, planning and finance minister of the Tanintharyi region government. “At the regional government, we frequently receive business delegations from Europe, including France, Italy, Czech as well as from other […]

Telenor gears up to offer a Myanmar record for data speeds

AS MOBILE data consumption in Myanmar soars to some of the highest levels in the world, Telenor Myanmar plans to offer its subscribers a record speed for the country of 1 gigabyte per second (Gbps) in the near future, said Lars Erik Tellmann, the firm’s chief executive officer. Tellmann said at a press briefing on […]

Myanmar permits full foreign capital investments in education sector

The Myanmar Investment Commission (MIC) has permitted foreigners to make full capital investments in private schools in Myanmar, according to Notification 7/2018 issued by the MIC on April 20. This means foreigners will now be able to fully own and operate private schools teaching a curriculum prescribed by the Ministry of Education (MOE) or an […]

Confident of long term growth, Serge Pun bets big on tourism, property

Investors looking for clues on where the Myanmar economy is headed may glean some insight from Serge Pun’s recent corporate maneuvers. The 65-year-old Myanmar tycoon has not been idle of late. Last month, units of Peninsula Residences Yangon, a collection of 96 private luxury homes, went on sale. The homes are part of the Yoma […]

More Japanese companies to invest in Myanmar: Thilawa Special Economic Zone

More Japanese companies to invest in Myanmar: Thilawa Special Economic Zone Sawako Utsumi and Lee Jay Walker Modern Tokyo Times Increasing numbers of Japanese companies are investing in the Thilawa Special Economic Zone (SEZ) in Myanmar. Of course, this SEZ is especially important for Japan because it highlights the importance of Myanmar to political elites […]

Nay Pyi Taw scraps Hpa-An coal power plant, communities urge Kayin govt to follow suit

Kayin communities and civil society groups applauded Nay Pyi Taw’s decision announced last month to halt a proposed coal power plant in Hpa-An and urged the regional government to confirm the cancellation. Meanwhile, a total of 130 civil society groups issued a joint statement to urge the government to cancel all proposed and suspended coal-fired […]